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Nigeria’s Zenith Bank gets tenders for $392.6 million of 7 3/8% notes
By Sarah Lizee
Olympia, Wash., Sept. 12 – Zenith Bank plc announced the results of its cash tender offer for any and all of its $500 million 7 3/8% notes due 2022.
The bank received valid tenders for $392,596,000 of the notes by the deadline, noon ET on Sept. 11. This amount includes notes tendered under guaranteed delivery procedures, which are due Sept. 13.
Zenith said it will accept all notes tendered in the offer, according to a press release.
As previously reported, the purchase price is $1,085 per $1,000 principal amount.
The offer will expire at noon ET on Sept. 11. Results will be announced on Sept. 12; the guaranteed delivery deadline is 5 p.m. ET on Sept. 13; and the settlement date is expected to be Sept. 16.
Citigroup Global Markets Ltd. (+44 20 7986 8969, liabilitymanagement.europe@citi.com) and Goldman Sachs International (+44 20 7552 6157, liabilitymanagement.eu@gs.com) are the joint dealer managers.
Citibank, NA, London Branch (+44 20 7508 3867, citiexchanges@citi.com) is the information and tender agent.
Zenith is a financial services provider based in Lagos, Nigeria.
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